Anticipation grows as buyers in Michigan await Homebuyer Tax Credit Extension - now passed by US Senate November 4, 2009

Tax Credit will no longer just for 1st time homebuyers when extension is signed into law.

Excited buyers are looking forward to the extension of the Homebuyer Tax Credit,

just passed by the US Senate today, with 98 Yeas, 0 Nays, 2 not voting.

Now the bill goes back to the US House of Representatives for a vote, which should go quickly, and then on to the President for signature.

Not only is the current tax credit being extended, but homeowners who lived in their principal residence (meaning lived there most of each year) for five consecutive years of the last eight years, may qualify for the new part of the credit, up to $6500.

This bill could possibly be signed into law yet this week.

It's a great time to buy a home in Michigan!